$5,343 Closing Credit*
$449,969
2,620 SqFt
3 Beds
•2 Full Baths, 1 Partial
Mark Zawaideh, Listing Office: EXP Z Real Estate
Is 48188, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 48188 has remained a Seller's Market.
Key Takeaway
48188 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 48188, MI
How much do homes in 48188, MI cost?
Median Sold Price
$400,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$25,000(+6.7%)
Key Takeaway
Homes in 48188 have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in 48188 was $400,000 in November 2024, up 6.7% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95.5K | $115K | +20.4% |
| 2 Bedrooms | $262.5K | $260K | -1.0% |
| 3 Bedrooms | $360K | $390K | +8.3% |
| 4 Bedrooms | $498.9K | $520K | +4.2% |
| 5+ Bedrooms | $601K | $682.5K | +13.6% |
Summary: 48188 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.4%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 13.6%.
Housing Supply in 48188, MI
How many homes are available in 48188, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 158 | 136 | -13.9% |
Summary: The 48188 real estate market had 136 homes for sale in November 2024, a 13.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 39 | 27 | -30.8% |
| 3 Bedrooms | 57 | 58 | +1.8% |
| 4 Bedrooms | 53 | 43 | -18.9% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The 48188 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 30.8%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 18.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 45 | 53 | +17.8% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 48188, you may be able to get a good deal. 47.2% of homes here sold below asking price last month.
Summary: A total of 53 homes were sold or pending in 48188 in November 2024, up by 17.8% month-over-month. Of the 53 sold homes, 47% were sold under asking, 21% were sold at asking, and 32% were sold over asking.
Days on Market for 48188, MI
How long does it take to sell a home in 48188, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 20 Days | +15.3% |
Summary: Homes in 48188 had an average of 20 days on market in Nov 2024, up by 15.3% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 48188 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 53 homes were sold in 48188; 83% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.